Widening Spreads May Finally Tempt Distressed Funds Into ABS Mart

Ever-widening and volatile spreads in the European secondary asset-backed securities markets could lure macro hedge funds and distressed funds into long positions.

  • 12 Feb 2008

-- Daniel Flatt

Ever-widening and volatile spreads in the European secondary asset-backed securities markets could lure macro hedge funds and distressed funds into long positions. “We may not have seen the bottom of the market yet, but at these levels would not be surprised if such trades become attractive ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 119,693.92 344 12.91%
2 Bank of America Merrill Lynch 99,935.46 287 10.78%
3 Wells Fargo Securities 88,155.55 263 9.51%
4 JPMorgan 69,113.88 208 7.46%
5 Credit Suisse 51,260.05 154 5.53%